Algert Global LLC Invests $1.62 Million in Universal Forest Products, Inc. (UFPI)

Algert Global LLC acquired a new position in shares of Universal Forest Products, Inc. (NASDAQ:UFPI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,517 shares of the construction company’s stock, valued at approximately $1,617,000. Algert Global LLC owned approximately 0.09% of Universal Forest Products as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Quantbot Technologies LP raised its stake in shares of Universal Forest Products by 47.7% in the first quarter. Quantbot Technologies LP now owns 1,425 shares of the construction company’s stock worth $140,000 after buying an additional 460 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Universal Forest Products by 55.5% in the first quarter. SG Americas Securities LLC now owns 1,539 shares of the construction company’s stock worth $152,000 after buying an additional 549 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Universal Forest Products during the first quarter worth about $169,000. Verity Asset Management Inc. acquired a new stake in shares of Universal Forest Products during the first quarter worth about $215,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Universal Forest Products by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 2,250 shares of the construction company’s stock worth $221,000 after buying an additional 50 shares during the last quarter. 79.13% of the stock is currently owned by institutional investors and hedge funds.

Shares of Universal Forest Products, Inc. (NASDAQ:UFPI) traded up 0.11% during midday trading on Friday, hitting $78.93. The company had a trading volume of 130,995 shares. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 15.66 and a beta of 1.88. Universal Forest Products, Inc. has a one year low of $77.80 and a one year high of $110.97. The company’s 50 day moving average is $84.93 and its 200 day moving average is $92.15.

Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, July 18th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.85 by $0.21. Universal Forest Products had a net margin of 2.86% and a return on equity of 11.73%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. Equities analysts forecast that Universal Forest Products, Inc. will post $5.60 earnings per share for the current fiscal year.

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A number of brokerages have issued reports on UFPI. ValuEngine lowered Universal Forest Products from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded Universal Forest Products from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub downgraded Universal Forest Products from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Sidoti started coverage on Universal Forest Products in a report on Tuesday, July 25th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $105.50.

About Universal Forest Products

Universal Forest Products, Inc is a holding company. The Company, through its subsidiaries, supplies wood, wood composite and other products to three primary markets, such as retail, construction and industrial. Its segments include North, South, West, Alternative Materials, International, idX Holdings, Inc (idX) and Corporate divisions.

Institutional Ownership by Quarter for Universal Forest Products (NASDAQ:UFPI)

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